Marketing management definition and Basic concepts

1. 1
Marketing Management
Definition and Basic Concepts (Part-II)
Marketing Management and International
Trade (DBM-312)
A K JHA

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Marketing Management
The analysis, planning, implementation,
and control of programs designed to
create, build, and maintain beneficial
exchanges with target buyers for the
purpose of achieving organizational
objectives.

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Marketing Management Involves:
 Demand Management : The organization has a
desired level of demand for its products. At any point
in time, There may be no demand, adequate
demand, irregular demand, or too much demand,
and marketing management must find ways to deal
with these different demand states.
 Building Profitable Customer Relationships :
Beyond designing strategies to attract new customers
and create transactions with them, companies now
are striving to retain current customers and build
lasting customer relationships.

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MARKETING MANAGEMENT PHILOSOPHIES
 The role that marketing plays within a company
varies according to the overall strategy and
philosophy of each firm.
 There are five alternative concepts under which
organizations conduct their marketing activities:
 Production concept
 Product concept
 Selling concept
 Marketing concept
 Societal marketing concepts

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Production Concept
The philosophy that consumers will
favour products that are available and
highly affordable and that management
should therefore focus on improving
production and distribution efficiency.

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Product Concept
The philosophy that consumers will
favour products that offer the most
quality, performance, and innovative
features.

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Selling Concept
The idea that consumers will not buy
enough of the organization’s products
unless the organization undertakes a
large – scale selling and promotion
effort.

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Marketing Concept
The marketing management philosophy
that holds that achieving organizational
goals depends on determining the
needs and wants of target markets and
delivering the desired satisfactions more
effectively and efficiently than
competitors do.

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Societal Marketing Concept
The idea that the organization should
determine the needs, wants, and
interests of target markets and deliver
the desired satisfactions more
effectively and efficiently than
competitors in a way that maintains or
improves the consumer’s and society’s
well – being.

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Factory Existing
products
Selling
and
promoting
Profits through
sales volume
Starting
point
Focus Means Ends
The selling concept
Market Customer
needs
Integrated
marketing
Profits through
customer
satisfaction
The marketing concept
The selling and Marketing Concepts Contrasted

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Three Considerations Underlying The Societal
Marketing
Societal
marketing
concept
Society
(Human welfare)
Company
(Profits)
Consumers
(Want satisfaction)

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MARKETING CHALLENGES
INTO THE NEW CENTURY
 GROWTH OF NON-PROFIT MARKETING
 THE INFORMANTION TECHNOLOGY BOOM
 RAPID GLOBALIZATION
 THE CHANGING WORLD ECONOMY
 THE CALL FOR MORE ETHICS AND SOCIAL
RESPONSIBILITY

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THE NEW MARKETING LANDSCAPE
The past decade taught business firms
everywhere a humbling lesson. Domestic
companies learned that they can no longer
ignore global markets and competitors.
Successful firms in mature industries learned
that they cannot overlook emerging markets,
technologies, and management approaches.
Companies of every sort learned that they
cannot remain inwardly focused, ignoring the
needs of customers and their environment.